Market participants are likely keeping a close eye on the upside potential of the rising euro-yen pair
09.05.2025
- Japan's Comprehensive Household Expenditure Survey
- Canada: Employment Statistics
In yesterday's U.S. currency trading, the U.S. dollar rose against the Swiss franc. The USD/CHF pair climbed from 0.8222 to 0.8330. On the hourly chart, the price moved from the -2σ to the +3σ Bollinger Bands. On the 4-hour chart, it has surpassed last week's high, and on the daily chart, it is currently attempting to break above the 20-day moving average (MA), which had previously acted as resistance. We will be watching closely to see if the U.S. dollar continues to strengthen.
Among European currencies, the euro rose against the yen. The EUR/JPY pair climbed from 162.406 to 163.895. An uptrend has emerged from the 20-period moving average on the hourly chart. On the 4-hour chart, the RSI rebounded from 37 to 61. Meanwhile, on the daily chart, the pair has been trading at roughly the same level for about a month. We will be watching closely to see if the euro continues to rise against the yen during today’s European trading session.
Today’s schedule includes the Japan Household Expenditure Survey and the Japan Monthly Labor Survey at 8:30 a.m., the Japan Economic Sentiment Index at 2:00 p.m., remarks by Bank of England Governor Bailey at 5:40 p.m., remarks by Federal Reserve Governor Barr at 6:55 p.m., remarks by MPC Member Pill at 8:15 p.m., the Canada Employment Report at 9:30 p.m., and remarks by Federal Reserve Governor Williams:Speech by John Barr, Member of the Federal Reserve Board, at 9:30 PM, Speech by Charles Goolsbee, President of the Chicago Fed, at 11:00 PM, and Speech by Michelle Waller, Member of the Federal Reserve Board, at 12:30 AM. We will closely monitor the upside potential of the rising EUR/JPY pair.
Author: Keisuke Sakurai
